Li-Fi Market Report, Future Growth, New Technologies, Development Factors and Forecast 2022-2027

PRESS RELEASE
Published February 10, 2023

According to IMARC Group latest report titled “Li-Fi Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on Li-Fi market overview. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global Li-Fi market reached a value of US$ 283 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 4,231 Million by 2027, exhibiting a CAGR of 51.26% during 2022-2027.

Light fidelity (Li-Fi) is wireless optical communication technology that utilizes visible light communication (VLC), including ultraviolet (UV), visible light spectrum, or infrared spectrum, to transmit high-speed data. Additionally, it uses light to transmit information in a similar way to Wi-Fi using visible light. It is a visible light communication (VLC) system that uses common household LED light bulbs to enable data transmission, in which the LED bulbs are connected to a controller that modulates the light intensity at high speeds. As a result, it helps in high-speed and bidirectional communication transmitted through a wireless channel in a closed, controlled environment, such as an airplane, office, vehicle, hospital, or shopping complex. It is gaining widespread traction as it offers secure and high-speed connections among multiple devices.

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Market Trends:

The penetration of the internet of things (IoT) majorly drives the global market. This can be supported by the growing need for businesses and consumers to connect a variety of devices to the internet. Along with this, the growing demand for high-speed networks to stream video or audio is significantly supporting the market. In addition, the widespread adoption of Li-Fi in cars for enabling high-speed internet access and hands-free communication that aids in improving safety and improve driver experience is acting as another growth-inducing factor. Furthermore, continuous development in Li-Fi networking techniques, including mobility support, interference mitigation, and multiuser access, is creating a positive market outlook. Some of the other factors driving the market include the increasing need for improved energy management and the growing initiatives towards smart city development.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

  • FSOna Networks Corp
  • General Electric Co.
  • LG Innotek
  • Lightpointe Communications
  • Lucibel
  • LVX System
  • Oledcomm
  • Philips
  • PureLi-Fi Ltd.
  • Semicon Light Company
  • Sunpartner Technologies
  • Wipro LLC

Li-Fi Market Segmentation:

Our report has categorized the market based on region, component, application, transmission type and end-user.

Breakup by Component:

  • LED Lamps
  • Optical Sensor
  • Microcontroller
  • Software
  • Others

Breakup by Application:

  • Indoor Networking
  • LBS (Location Based Services)
  • In-Flight Communication and Entertainment
  • Underwater Communication
  • Others

Breakup by Transmission Type:

  • Unidirectional
  • Bidirectional

Breakup by End-User:

  • Retail
  • Consumer Electronics
  • Automotive and Transportation
  • Healthcare
  • Defense and Security
  • Others

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

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